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tv   Mornings With Maria Bartiromo  FOX Business  August 13, 2021 6:00am-9:00am EDT

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♪ larry: ronald reagan was the most consequential president in the second larry: ronald bragg was most consequential president of the h century, strength at home equal strength abroad maria: good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo and it is friday august 13th, your top stories right now 6:00 a.m. on the east coast. digging deeper into china's coronavirus cover-up. what the world health organization is saying about pandemic origins and the wuhan lab. dow industrials up better than 60 points, more economic data hitting the tape later this morning when we get the july
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import and export prices out in about 2 and a half hours. s&p 500 up 4 and a quarter. and nasdaq up higher 6 and a quarter after dow and s&p 500 finished with third record close yesterday, unchartered territory to begin the day once again. dow industrials up 15, nasdaq up 51 and s&p 500 higher by 13. check european markets higher, strong earnings and optimism over covid recovery boosting sentiment there, ftse 100 up 23, cac up 28 and dax index higher at 85 this morning. markets in the red, asian indices down across the board with worst performer korea, kospi down better than 1%. mornings with maria live right now. ♪ ♪
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♪ maria: now some of the top stories that we are watching this morning. the u.s. is sending 3,000 troops back to afghanistan to help evacuate the american embassy in kabul. this comes as the taliban has now captured two more major afghan cities. the country second and third largest after kabul. the onslaught comes as part of a week-long blitz. they captured 13 of afghan capital and taliban can take control over kabul within a month. meanwhile border patrol overwhelmed as migrant encounters now at a 21-year high. we have new official numbers and they are more than 212,000 migrants work apprehended at the border in the month of july. homeland security secretary alejandro mayorkas calling the number unprecedented but the administration is still not willing to admit the surge is
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result of president biden's open-border policies instead pointing the finger at so-called root causes. happening overnight, the food and drug administration giving green light for booster shots for certain people with immune systems. once that is done, shots could start to be given right away on those booster shots. and the supreme court blocking part of a new york moratorium on evictions. state's measure allowed tenants to invoke eviction presentations by self-certifying. they are facing hardships during the pandemic but the high court says it has ruled 6 to 3 that the freeze went too far and deprived landlords of due process. markets are higher this morning. futures indicating a positive open for the market as we end the week and it has been a volatile one.
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the s&p up 3 and 3 quarters and the nasdaq higher by 3 and a quarter. yesterday the s&p and the dow both closing in record territory, another all-time high for beth dow and s&p with the dow up 14 and change, 35,499 and the s&p at 13 at 44.60. nasdaq higher as well at 51 points as you can see. more inflation data on tap this morning. we will get the input-export prices, joining me right now cofounder and president julian and joining the conversation all morning long fox business dagen mcdowell and the wall street journal assistant editorial page editor james freeman. great to see everybody this morning, thank you so much for being here. julian, let me kick it off with you, we have more inflation data and yet this market continues trading in record territory. your thoughts on where we are right now? >> good morning, maria. well, i think, look, the big issue is that we still got the feds with their foot on the
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accelerator and nailing it to the floor and we have spending, plenty of cash in people's wallet. this is an economy that is running on all cylinders so why wouldn't the equity market unrestrained by policymakers and bond market keep moving higher? maria: you want to keep buying stocks here? >> i think we are increasingly coming to some transition point. i think when i was on the show last month we both talked about some concerns as you move into the fourth quarter, so at this point i'm increasingly cautious and running stop some things because certainly pushed in valuation in whatever metric you look at. but, yeah, you are not fading this thing aggressively at this point until we see either move by the bond market or the fed to start tightening policy. maria: yeah, and so far we've heard from san francisco federal reserve president mary daily
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telling the financial times yesterday that the central bank could begin dialing back the pandemic levels of support to the economy by the end of the year. daily pointing to the strength of the economic rebound and policy pivot, julian. what happens in the next couple of months, do you expect the federal reserve stop buying the 120 billion every month and how do you think this plays out and when would you see the fed begin raise interest rates, 2022 affair? >> yeah, i think so, maria. let's look at it like this. they told us they will ignore the inflation numbers. doesn't matter what level these numbers print. they are transitory. you can't prove them wrong for at least some period of time and you should some of the headline numbers start because the base effects of last year from the pandemic start to roll out. they should fall away but i think the underlying inflation
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pressure is very great but the one they are focused on is employment and we just had knock it out of the park unemployment number and all the indicators are this is an extraordinarily robust employment picture. the only thing that's holding us back if anything is supply issues. but even allowing for that, you're going to be using something conservative assumptions that we have made. you can be back to the prior highs of employment by march of next year and so i do think it's incumbent upon the fed to start at least thinking about less aggressive easing. let's be clear, maria, tapering isn't tightening. it is easing less aggressively. 105 and then 90, that still is easing. i think they really have to get a move on it and another number
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like this and we can be looking at october beginning to taper and i think really they should be -- you should start to build and the fixed income market has done this yet, 200 basis points in probably from next june onwards. 2011-interest points a year. maria: incredible what the bond market is telling us. what do you think it's saying with the yield at 1.3% down almost 2 basis points this morning? >> i think most of the drop was functioning and how the market got caught out by the fed pivot in june. they've been betting on higher longer rates and that is
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incorrect and we have actually started to see what the market refers to short-term rates slightly faster than the long end and typically when you're moving into a tightening phase, you don't see the long end. that's not where the pressure occurs. it's at the short-end of the curve and we have seen the treasury run general account by enormous amount. we are getting to leverages now where they are running out of money to spend. they can drag it low and into the beginning of q4 but i think you've starting to see sign that is the bond yields are basing, but not like tech and high-gross names. maria: all right, we will leave it there. julian, thank you for your insight this morning.
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another big market day. dow industrials 55 and the morning mover is disney, stock up 5% right now after reporting better than expected fiscal third-quarter results after the close last night. the theme park returning to a profit, the company adding more streaming customers than expected. ceo bob is optimistic about the park's business, he said that despite the surge in covid cases reservations for the current quarter are outspacing from last quarter. disney shares up better than 5%. we are just getting started this morning, coming up investigating the chinese communist party's propaganda in the united states. indiana attorney general todd is here on the probe that he just launched into the ccp's propaganda, then next hour afghanistan's largest city falls -- second largest city falls to the taliban. what about the largest city? with her take on the stunning collapse. that in the 8:00 a.m. hour, fda
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authorizing covid-19 booster shot for some americans. former fda commissioner dr. steven hahn is here. don't miss a moment of that. you're watching mornings with maria live on fox business. ♪ ♪ ♪ world.
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only inflation and political divisions are more worrying for people. when asked about local area, 57% of people said that there's more crime compared to a year ago. joining me right now the washington times opinion editor and fox news contributor charles hert, great to see you this morning. for a year or more we have been hearing some democrats defund the police, how did they expect this to play out? >> yeah, hard to say, hard to answer that question because it's absolutely insane. the two most power motivators for elections in any -- for voters in any election, one is folks and the other is security. nothing is more powerful in security. we have seen people win elections over security like in places like iraq. your talking about security in your neighborhood, it's even more powerful. i think it's a big reason why we started to see a lot of
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democrats, sensible democrats worried about election are backing off, trying to run away from this and trying to blame republicans for defund the police effort that democrats and democrats alone have pushed over the past couple of. maria: and that's what's most concerning while you were talking we were showing this video of one individual running down the street, broad daylight this week in harlem and he's just pointing his gun shooting. thankfully no one was hurt but this just happened this week but what you just hit on, i think is one of the most worrying parts of this because the democrats will not even acknowledge or admit that their policy choices have resulted in this. i mean, bad policy equals bad outcomes and we have seen that over and over again from the elimination of cash bail to wide-open borders to shutting down prisons and to all of the
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rhetoric that the police are bad and, of course, they don't want to do their job, they're now afraid themselves because they know they don't have the support of their mayor or their governor. >> exactly. and all of that goes to the very top. we heard this stuff from president biden himself. we heard, you know, you had vice president kamala harris raising funds to get people out of jail arrested in riots in the western part of the state. this is not some french thing, all the leadership went along with it and talking about crime in a place like new york city is a perfect example. this is something that doesn't just affect people in red areas, red states or and this is kind of thing that affects people in democrat strongholds and this is an issue that -- i think we are in a an interesting political
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position these days where we will see a lot of lines re-drawn that political watchers that sort of relied on over the years and if you're living in a blue area and you're seeing mayhem in the streets, people running down the street firing wildly, you know, that's the kind of thing that motivates people. democrat voters are not down for this. this is not what they voted for. we could have a whole long segment into what they were voting for in the last election. this is not what they were voting for just like at the border, they weren't voting for open borders either. maria: yeah, i want to bring in dagen in. you mentioned the border, if you're a practical, any normal person has got to have a problem with the surge of migrants coming across the bored. it is getting worse every day. we have new numbers every morning, 21st thousand apprehensions in the month of july. this is the highest number in 21
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years. alejandro mayorkas announced yesterday talking about the 21st 2,000 migrant encounters in july alone compared to one year ago in july of 2020 it was 41,000 encounters. it's just -- it's so obvious that this, quote, unquote, root cause is the biden administration overturning the trump policies. mayorkas said that the situation on the border is, quote, one of the toughest challenges we face, still calling it a challenge, not a crisis, charles. charles: yeah, and while i take some glimmer of hope out of the fact that they're acknowledging finally that they have a crisis on their hands but you're exactly right, the problem remains that they still parent these ridiculous talking points that one of the problems they have right now was cruel policies of the trump policy. there wasn't cruel policies. first of all, they were common-sense policies.
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first common-sense policies that politicians came up in decades but more importantly the kind of policies that you could have because it avoided -- setting aside that we should have a border and we should enforce it and we are a country and we are allowed to. think of the humanitarian crisis that these people have created out of nothing and the cruelty on the children, these women, people that are crossing the border and the misery that they're subjected to because we want to look nice or whatever it is that joe biden wanted to do. it's a disaster and they are going to pay a price for it thankfully. maria: that's right. we took the show to the border and i was there watching the situation play out and it was absolutely extraordinary to meet these people who were coming across into texas, wanting to get apprehended because when you get apprehended you get processed and pretty much you become legal and in you're in
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america for as long as it takes to see a judge and in some cases it's never because you never go back to see that judge and by the way charles, 2,112,000 number does not include got aways. there's a hundred thousand people of the year that have come into the country and just gotten away and they are now in the country, we don't know what their interpretations were, we don't know why they snuck in and did not get apreheppedded. last -- apprehended, that's like 40 or 50,000 people a month. charles: i don't blame them. the problem is the policy and refusal to obey federal laws. by the way, if you don't like the federal laws, change them in congress. democrats control everything. if they want to do that, they can do that. they are ignoring federal laws. all of this is happening in the middle of a freaken pandemic where you have people coming across the border, you have all
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of the holes and laws for everybody -- but border wide open, let people come in and they get shipped around the country. it's absolutely appalling. it's an assault by american politicians on american citizens. maria: it absolutely is. one of the border agent sources that i have in el paso sending a picture the other day of these kids jammed into one room and it was a school and he said this is part of the reason that the covid is coming from over the border because there are people who come across the border to go to school in el paso, texas and then they go back to mexico. it's just extraordinary, charles, and no acknowledgment whatsoever from the democrat party. charles hurt, we will keep highlighting, of course, issue of while as well, thank you, sir. we will take a quick break, when we come back, more cities taken
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over by the taliban overnightment they are just marching across afghanistan. the biden administration is now sending troops back into afghanistanment we will explain that when we come right back, stay with us.
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maria: welcome back, the crisis in afghanistan is escalating overnight. at least two more capital falling overnight. the u.s. announced plans yesterday to send thousands of troops back to afghanistan temporarily to help evacuate personnel from kabul. president biden leaves washington heading to delaware on vacation ignoring questions. the biden administration was warned that this would happen and the taliban would take over and now here we have the taliban and terrible stories of what
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they're doing to the afghan people. >> it's really horrific. executions, forced marriages of women to taliban fighters when the taliban sweep into an area. people obviously have different views about what should be done and there's obviously a consensus among americans that war has gone on a long time but what i think is really inexcusable is this rushed, unplanned really disgraceful exit that the biden administration had to be pressured to address all of our friends, all of the interpreters who have fought alongside the troops that we are leaving behind. we allowed in a few hundred of them, there are tens of thousands in a bureaucratic hell waiting for immigrant visas before the taliban kill them and a lot of them have to bring the
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evidence with them to show bureaucrats that they are our friends and travel through taliban areas who when they find them will see the evidence on them and see the evidence that they worked for the americans and kill them. so it's just absolute disgrace and whatever anyone thinks about what we should be doing in afghanistan, how the administration came to this decision without thinking for a moment about the repercussions, about the people we are leaving behind, it's really -- it's shameful. maria: and now what? now that the administration, dagen, is sending 3,000 troops back, is that egg on the face, is that obviously, we made a mistake or is there real truth to the fact that they'll be temporarily just to evacuate the embassy? i mean, the intelligence -- the intelligence community says that kabul will fall within a month.
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dagen:ly just quote joe biden, something he said recently, there's going to be no circumstance where you see people being lifted off the roof of an embassy in afghanistan. he's referring to the fall of sygone. now it is. the administration is so concerned about polls and about optics and the way things look is that you might not get any shots or video of what's going on as we try to rescue embassy employees but it is certainly happening and it is a repeat in some way of what happened with the collapse of -- you know, southern vietnam or sygone and i will just add this in terms of -- this is just a gross miscalculation and underestimation of what would
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happen in afghanistan and really around the world. again, we call china a competitor, but not an enemy. that's laughable. and also what is it -- we are coming up on the 20th anniversary of 9/11 and the united nations has said recently that the two groups remain closely aligned and show no indication of breaking ties and as the wall street journal wrote earlier this year. with the security vacuum, what does is islamic state do in the area? how long is it before the united states is attacked again because we were in afghanistan to protect the homeland and last time i checked our presence did, indeed, do that. maria: unbelievable. this is joe biden's foreign policy and it's having an impact on all of us. stay with us. we will be right back.
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maria: welcome back, good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo, and it is friday august 13th. take a look at markets this half an hour. we are in unchartered territory once again. dow industrials up 51. s&p up 3 and a quarter. both indices begin the session at record highs. nasdaq this morning up 5 points, investors waiting more economic data. july import and export prices out in two two hour's time. we will have the numbers for you. third straight record close. nasdaq is up 51, the s&p 500 up 13 and change. european markets this morning also kicking higher, strong earnings and optimism over the covid-19 recovery seems to be boosting some sentiment. ftse 100 is up 29, cac up 24 and dax index higher by 70. in asia overnight markets finished in the red. fractional moves with the
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exception of korea, down better than 1%. back in the u.s., drivers dodging bullets literally as gunfire erupts in the middle of a new york city street, lauren simonetti now explaining those pictures we saw earlier, lauren, over to you. lauren: maria, good morning. nypd releasing shocking video shown here as gunmen opening fire on a street in broad daylight, another man can be seen darting into oncoming traffic to avoid bullets. it happened on august 1st in harlem. shooter took off in a scooter and nobody was injured, imagine that. the u.s. is diversifying new numbers from the 2020 census show the population of white americans now lower than in 2010. it's dropped 2.6% putting the population below 60% and a decade ago it was only 9 million people, it's now 33.8. we take a look here, disney just smashing expectations.
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hard to find number in this report and i looked. $923 million in profit loss quarter, big boost from parks and experiences, returning to profitability for that unit for the first time since the start of covid-19. disney also topping subscriber estimates for streaming service, disney plus coming at 116 million, not too far behind netflix. disney shares, dow component up 5% in the premarket. britney spears one step closer to being free. father jamie announced he has stepped down as conservator of the singer's estate. it's unclear when he will officially step down. the next hearing scheduled for september 29th, maria. maria: all right, lauren, thanks very much. we are taking a look at indiana with an indiana attorney general tyler, launching an investigation into university's
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association with confucius institutes, they function as propaganda for the chinese communist party and by the way across the country, reportedly receiving $1.1 million from the chinese government from 2010 and 2019. right now the attorney general general of indiana todd rakita. thanks very much for being here. i will tell you i'm glad that you're pushing back on this. we have been talking about confucius institutes on the program for several years. we wrote a book about it, myself and james freeman as well included that in our recently released book the cost. tell me right now what the crux of the issue is from your standpoint. >> well, look, maria when i assumed office i promised the people of indiana that we would hold china accountable. and this is the first installment of that promise.
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you know, it's more than just the -- confucius institutes, that's an act of what they continually do whether it's unleashing the violence in the world either with intention or negligently and trying to cover it up, stealing our intellectual property or the human rights abuses. the confucius institute's act allegedly to indoctrinate the students so that you don't hear the bad news about china, the chinese communist party as you know from your book, they want to gloss over the whole narrative. usually when this happens, maria, you have to register as a lobbyist with the federal government. here infiltrated our not only higher education system but from there they branch out and have subsidiaries that go into our k through 12 system so this is another example of communist, socialist indoctrination. maria: that is absolutely right. you are spot on. and under the trump of administration we saw a string
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of indictments zeroing in on just this issue. remember the head of the biology department at harvard was indicted because he was accepting money from the ccp. now the university is denying any wrongdoing this morning in a statement saying that this, university does and would not support any endeavor that supports communist ideology as doing so would conflict with its christian mission and purpose and strong support of the first amendment of the u.s. constitution that protects the freedom of speech and religion. this is a statement from the university, todd, you have to question what it's doing with the money that it's received from the ccp. can you tell us about that? >> yeah, that's exactly what the investigation is about. it's an investigation that will go where the facts take us but you have to wonder. there used to be a lot more confucius universities across the country and thanks to people
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like you that have exposed the information a while ago now they've died down. university thinks it's appropriate to continue this relationship with the chinese communist party and you have to wonder why. is it just the 1.1 million or what else is going on, 1.1 million from communist to me it's bad enough but let's find out and that's what we are going to do. maria: well, you know, one question that i have is the broader issue of the ccp having been able to successfully get in the gates within america. this is one of the biggest problems that we face because whether it's academia, hollywood, corporate america, you've seen a real effort and a success in terms of getting those industries as lobbyists, to become lobbyists for the chinese communist party. i interviewed jamie dimon last
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week, chairman of jp morgan, they were given a license to own and operate own securities business in china and i basically said, you know, explain this to us. we know that the ccp has used 2020 to gain more ground. they invaded india killing soldiers, they invaded hong kong with step marching on the floor and -- and throwing freedom fighters in jail with this new national security law. they've been bullying their neighbors in the south china sea. two administrations told us there's genocide going on. the trump administration and the biden administration and yet you have corporate america getting ready to just exploit these licenses and go operate in china. how is it possible that the ccp has been able to get inside industries like corporate america, academia and hollywood so well? >> well, you know, maria, you kind of have to follow the money. the woke corporate left wants to sell their goods and services to a billion people. i think it really comes down to
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that. maria: yeah. >> meanwhile we are an open country and stay in open country but you and i and others and viewers have to fight back not only against foreign influences that come in to insidiously disrupt and destroy american institutions but also the corporations that have joined them and we will win, maria, because we are going to expose it and we will take this where the truth -- to find the truth, take us where the facts lead us and we will push back with that truth so that this country stays free and that our people have liberty. maria: well, this could not be a more important investigation. we know the ccp's goal to overtake america as number 1 super power. i wished those industries would start thinking about what a chinese empire as the number 1 1 super power of the world would bringing their kids and their kids and they will not have the same opportunities as free america that's for sure.
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real quick general rakita before you go, this administration's policies obviously have not been good for the american people, wide open borders, crimes spiking. what else are you doing in your office to push back here as so many states by the way are also looking to ensure we have free and fair elections in 2022? >> right, well, we are leading on that as attorneys general. we will fight to make sure. i said even on your program, the sun won't set in indiana before we sue if the federal election bill becomes law because that's a lot of what's going on here taking away the rights and liberties of people of skewing election. over 41 executive orders from the biden administration. it's very i said use, despicable and attorney general across the nation, at least some of us, at least 20 some of us are the front lines for this and fighting against it, whether it's protecting all about
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resource plan to make sure that we are not boxed in by overly expensive regulations that drive up our fuel costs but whatever the issue is, it's coming to your attorneys general in your states, making sure that you're keeping them accountable and at least 20 of us that are doing so. maria: well, you're the last line of defense. we are counting on you, thanks very much, attorney general todd rokita, we will be watching all of that. thanks, we will be right back. ♪ ♪ ♪
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maria: crypto coming to sports pro contract, we are talking about soccer star lionel messi's new deal and that includes digital currency. we will be back in 2-minute's time.
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maria: welcome back, the biggest news in the soccer world also making wave in the crypto, lionel messi's deal to join paris saint germane, joining me right now is matthew, chairman of the chamber of digital commerce and block chairman and cofounder. matthew, great to have you this morning. thanks very much for being here. what did you make new contract with digital currency in there? earlier in the week we heard amc will be accepting bitcoin for just to go to the movies. interesting to see the two
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developments. >> thanks for having me, maria. yeah, this is the things and paris saint german has fan tokens, they behave like mileage points and they create incentives for fans to do things like a tweet or participate in things and also get rewarded and so these token wills have real market values it to buy things and becomes currency within the ecosystems and i think it's very smart and astute for messi: to participate because they'll be a direct relationship with fan token and we are seeing more messi and tom brady's, a lot of celebrity influencers coming into crypto and it's great from an education standpoint. maria: so is there enough
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liquidity here? i mean, look we obviously saw the quarterly number from coin base this week, coin base taking advantage of the rise in interest in crypto reporting a $1.6 billion quarterly profit. those numbers were incredible. that was a profit at coin base. that in and of itself tells you that there is liquidity here but what's your take, what is the coin base success tell you about where the market is today? stock is up two and two-thirds percent right now. >> absolutely. had a monster quarter but what i like seeing on the data, there are 56 million users and i think coinbase will behave differently and will be looked upon as fast company, a lot of recurring revenue and infrastructure they provide and then like a social media company. i think the intersection of all 3 is what coin base is going to look like over time. crypto is very social.
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70 billion-dollar market cap. it's got 220 plus billion of crypto on the balance sheet. that's about 11% and barometer for this industry and in the second quarter, it's really done an amazing job. maria: james freeman, jump in here. james: thanks. i'm wondering about crypto as a currency given the way the irs treats it, potentially triggering capital gains tax when people use it. is it really unlikely to be a currency in the u.s. and -- and how does it work overseas if messi wants to spend some of the crypto dollars? is he going to be paying capital gains taxes whenever he buys the next house or sports car? >> yeah, great question. and in the u.s. it's -- there's very good clarity of bitcoin in property but going back last week we had the infrastructure
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bill that was getting bobbled around dc and, you know, there's some potential for bad regulation out there. but we have some amazing people within congress working with the industry. senator cynthia, warren davidson, we have a block chain caucus. we have to get this right otherwise a lot of the innovation will go offshore and we have amazing opportunity on the scale of internet 20 plus years ago to kind of play into this new defi world and new coworld. maria: we will keep the --
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♪ ♪ ♪ maria: welcome back. time for the morning buzz. a new study shows there are 4
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phases of metabolic life. you peak at age 1 and decline until 20 and then stabilizes until you're 60 year's old and that's when it start to decline. so, dagen, your metabolism doesn't really slow down until you're 60. dagen: i'm calling horse manure on this. no, aye just -- i go by it. i used -- before i turned 20 i used to be able to eat french fries 3 times a day and drink coca-cola and, you know, all of a sudden you get to college and you're eating nachos bell grande which in theory would be healthier than french fries and you gain 30 pounds. so that's just not true. the only things that can raise your metabolism are exercise and nicotine so there's a one-two punch if anybody is interested. maria: yeah, i was thinking
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about exercise. i wasn't considering what you were eating in terms of metabolism. you know, i was thinking well, your metabolism stays up there and you're able to do lots of cardio the way you were doing it when you were 20 but, yeah, i wasn't considering what you eat, james, what do you think? james: i don't know. not a lot of stability since i was 20. i've been gradually moving weight from the top of my body to the middle of my body. i don't see a lot of stability going on. [laughter] maria: all right. stay with us. we will be right back. big hour coming ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪ . . .
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get started today with a free 30-day omnipod dash trial. go to for risk information, instructions for use, and free trial terms and conditions. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod. maria: welcome back. good friday morning, everybody. thanks so much for joining us, i'm maria bartiromo. is friday, august 13. your top stories right now, 7:0. risingconcern over rising crime across the country. eight in 10 voters worry about the violence across our nation and the democrat policies that are making crime worse. markets this morning are higher, take a look at futures indicating a gain in unchartered
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territory once again this morning, we're at record highs. dow strils up 43, s&p up 2 and a quarter, nasdaq higher by 3 and a quarter. investors are awaiting july import and export prices out in an hour and-a-half. it was a record setter yesterday, dow and s&p 500 finished with a third straight record close with a gain of 14 on the dow, s&p up 13, nasdaq higher by 51 points at 4:00 on wall street. that has a firmer tone for europe this morning, european markets ticking higher, take a look. we had strong earnings there as well, there is optimism over the covid-19 recovery and that has the ft 100 up 27, cac up 22, dax index higher by 66. in asia overnight, it was red across the board, take a look. worst performer overnight in asia was korea, the kospi better -- kospi down better than 1%. "mornings with maria" is live right now. now some of the top stories that we are watching this morning.
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the u.s. is sending 3,000 troops back to afghanistan to help evacuate the american embassy in kabul. intelligence is expecting kabul to fall soon, it comes as the taliban has captured two more major afghan cities. this comes as part of a week long blitz by the taliban. they've now captured 13 of afghanistan's 34 provincial capitals. some intelligence assessments are predicting the taliban could take control of kabul within a month. meanwhile, the nightmare continues at the border, border patrol overwhelmed, migrant encounters at a 21-year high, 212,000 migrants were apprehended in the month of july, these are new official numbers this morning. homeland security secretary alejandro mayorkas calling the numbers unprecedented. but the administration is still not willing to admit that the surge is a result of president biden's open border policies. instead, now they're pointing the fin.
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finger at so-called rootcauses. the root causes were the biden administration overturning trump poll of sis at that time the -- policies at that time border. getting to the bottom of china's coverup. as i reported, the virus likely leaked from the wuhan lab. now the task force is calling for closer scrutiny of the lab, after the lead investigator admits that the idea that the virus leaked from the wuhan lab is probable after calling it, quote, extremely unlikely back in february. well, the supreme court is blocking now part of new york's moratorium on evictions, the state measure allowed tenants to invoke eviction protection by self-certifying they were facing financial hardships during the pandemic. the high court ruled 6-3 that the freeze went too far and deprived landlords of due process of getting paid. time for the word on wall street, top investor watching your money, joining me is
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federated chief investment officer for global liquidity markets, debbie cunningham, chief economist lindsey piegza and bell point asset management chief strategist, david nelson. great to see you. habe friday. thank you for being here. debbie, let's take a look at the macro story and earnings story, disney posted higher than expected quarterly numbers yesterday, disney's third quarter, fueled by subscriber growth in disney plus and the company's theme parks returning to profitability for the first time since the pandemic. airbnb also beat expectations on revenue. they had a 300% jump in second quarter revenue and then there's door dash, announcing new records for total orders and gross order volumes. debbie, tell me what you see from the earnings season so far and what these particular companies tell us about the recovery. >> well, good morning, and happy friday to you, maria as well. and this is something that we've been talking about now pretty much on a year-to-date basis
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throughout 2021. pent-up demand, what we're seeing is satiation of some of that, you've got a wall of cash out there, investors, spenders, are taking some of the savings they've amassed over the course of the last 18 months and putting them to work and where are they putting them to work? they're putting them to work in leisure activities, travel activities, things that they have not been able to do or at least not do in their normal fashion over the course of the pandemic. since the pandemic began. as far as the overall earnings season goes, we're looking at one that's very strong and although there are some that are tempering that for expectations in the future, our outlook here at federated hermes that that increase in earnings is not stopping with this quarter, that we will continue to see improvement in earnings over the course of the rest of this year and certainly into 2022. maria: yeah, but debbie, has
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peak growth happened? i mean, look, we know that these earnings numbers that we've been reporting for the last month or so are being compared to a lockdown in 2020, so the comparisons are real sweet for these companies right now, for the quarterly performances, but what about going forward? you say you think the earnings strength will continue. do you think we've seen peak growth at this point and things slow down even if continued strength? >> continued strength, definitely a tempering of that, certainly the base effect compared to last year are going to skew the results on the positive end right now. but when you compare for the third and fourth quarters, you're going to see something that's more tempered but still substantial in comparison. and our expectation is that the growth that we've seen both from the individual as well as the corporation and institutions in
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the marketplace are going to continue. if you go back, maria, to what we had from an economic recovery standpoint back in the 2019 timeframe, we were slowing, we were slowing off a pace that had been for a year maybe 4%, then 3%, then 2%. we think we're picking back up from that pace. maria: so what does this all mean to the federal reserve, lindsey. san francisco's fed president told the financial times yesterday that the fed could start to limit pandemic levels of support to the united states economy by the end of this year. give us your timeframe and how you see it playing out. we have jackson hole, the meeting where we expect the conversation to take place, happening in two weeks. what happens first, the fed pulls back on the bond buying program and when would you expect a rate hike? >> what you're seeing right now is with inflation where it is and this vast recovery in the labor market, particularly after last month's one million jobs
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and broad based recovery, there's a number of fed officials questioning the extraordinary accommodation from the federal reserve. mary daly is the latest to say look at the consumer, look at the households, if we continue at this pace we're likely to meet the fed's threshold of substantial further progress by the end of the year or early next year, warranting a rollback in asset purchases which is a presumed first step towards a rate increase. we also heard from the boston fed president saying not only is asset purchases no longer providing a benefit in terms of jobs, but it's actually driving up asset price as we've seen home prices up over 16% in the last year and we also heard from the atlanta fed president saying maybe we're going to see a taper in the coming months if we continue to see this type of improvement in the labor market. so i certainly would agree with this growing hawkish tone at the fed that with the economy poised to have the best annual growth rate in four decades, it's doesn't make sense we're seeing this type of extraordinary
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accommodation from the federal reserve. we're looking for an announcement, an outline of taper, sometime in the coming months, april or september. either at jackson hole or the september fomc meeting with a formal announcement for a rollback in asset purchases by the end of the year and initiating that process next year in 2022. so we're still a ways away before we're talking about the first rate increase but we're certainly taking steps towards that direction of removing accommodation. maria: yeah, it certainly feels like wall street has it all plotted out, understands where the fed is going so maybe there won't be too many surprises. we'll see if a selloff happens in stocks once the conversation actually solidifies in the next month. i want to talk about china, the ccp released a five year plan calling for greater regulation on the chinese economy. you know this comes amid heighten scrutiny on companies like didi and the massive loss
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in the month of july. david, your thoughts on the regulatory environment. the ccp decided to change the rules in terms of its regulation of business and as a result, caused a one and a quarter trillion dollar loss in value at its worst in the month of july. investors overall when all was said and done lost $400 billion by having been invested in those chinese companies when the ccp pulled the rug out from under them. what do you think it means for investors here. >> you're right, maria. china remains an adversary in every sense of the word and it's a particular problem for u.s. investors here. most americans buy into u.s. listed chinese companies like alibaba and the others you mentioned and they think they're tapping into the chinese consumer, the chinese economy. the reality is potentially they own nothing. these companies used vies or variable interest entities to get around chinese law. and essentially what u.s. investors are invested in are
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offshore entities in the cayman islands mostly and these companies have contracts with these companies for a slice of the economic interest. china can change the rules at any point in time. the downside is truly unmeasureable, unlike anything i've ever seen in my career and china for me is part of that emerging market lie, it's cheap for a reason. don't underestimate the rule of law and you how important it is for you and how much it protects you. you don't have any of the rights of ownership like you would with an apple or microsoft, facebook and others of, in the united states it's the best place to be. maria: i'm glad you mentioned the variable interest entities, david. this is such an important point because they seem to be not included in joe biden's commentary when he talks about chinese companies tied to the military. these are all tied to the military and you're right, you
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have no idea what you're buying into. they do not have to follow accounting rules of the united states. it's a great warning and great cautiousness coming from you this morning on investing in chinese companies. great word on wall street, everybody. thanks very much, debbie cunningham lindsey piegza. we'll catch up some. afghanistan on the verge of collapse. kt mcfarland is here to discuss the taliban taking over three more cities overnight. is kabul, the capital, next? and in the next hour, the fda authorizing covid-19 booster shots now for some americans. former fda commissioner dr. stephen hahn will weigh in. joining the conversation all morning long, dagen mcdowell and james freeman. we're going to get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business. ayi] ♪ ♪
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>> the situation at the border is one of the toughest challenges we face. it is complicated, changing, and involves vulnerable people at a time of a global pandemic. maria: that was department of homeland security secretary alejandro mayorkas during his visit to the border yesterday, during that trip he announced that we have another record high in terms of migrants coming in. this is official new numbers, more than 212,000 migrants were encountered last month, that is a 21-year high, this does not include the got-aways, tens of thousands of others got away. they are seen on surveillance cameras getting into the country and moving past the border. joining me right now is colorado congresswoman and house budget and natural resources committee member lauren bobert. it's good to see you this
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morning. thank youing for being here. you heard mayorkas calling it a challenge once again. your reaction. >> in my resolution that i introduced the censure president biden for his dereliction of duty to secure the southern border, i called for the removal of secretary mayorkas and i certainly support chairman of the freedom caucus andy biggs' effort to impeach secretary mayorkas. while pawn is threatening more -- while president biden is threat ming more lockdowns of law abiding citizens he refuses to lock down the southern border. we see records every month from border crossers, illegal drugs crossing and killing our citizens. enough fentanyl has been released into the country to kill americans multiple times over. it's out of control. it requires more documentation to go to a restaurant in new york city than it does to cross our southern border. that is ridiculous. under biden, requiring id to
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vote is considered jim crow 2.0. but illegal crossing our southern border with no id gives illegal aliens free flight to any city of their choice and this is unacceptable. maria: it is unacceptable and it's extraordinary that your colleagues are rolling over for the democrats in the face of all of that. let's talk about this spending spree and a split within the party this morning, a group of moderate house democrats say they will not vote for reconciliation unless house speaker pelosi allows a vote on the bipartisan infrastructure bill. congresswoman, you know as well as i know, nancy pelosi is tying these two bills. why is it that your colleagues in the republican party did not demand that the democrats and this administration acknowledge the crisis at the border, demand that there is something done for all of the covid coming into this country before agreeing to spending a trillion dollars on
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infrastructure plus? >> maria, i have many of the same questions, many of the same frustrations. it's unfortunate to see the same republicans do this once again. there's so many times that we looked back and republicans think that if they give just a little bit, the democrats will somehow play nice and it never works out. if we keep spending like aoc and nancy pelosi and frankly many rhinos are trying to do, it won't be long before treasury secretary janet yellen has to call jd went worth at 877-cash-now just to keep the government open. this $1.2 trillion infrastructure bill has $7.5 billion for electric school busses, funds research for safe wildlife crossings and i could go on and on. democrats want to spend $3.5 trillion on literally everything you can imagine, minussing reopening our economy, securing the southern border,
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and building the much needed keystone xl pipeline. biden and schumer certainly aren't paying for this and nancy pelosi is not paying for this. the american taxpayers are paying for this. watching this program, they know that they're the ones would are going to have to foot this bill and they're the ones paying for this democrat spending spree with their tax dollars and a there should have been a demand to secure the border and take care of covid. the american people are suffering from these covid restrictions and regulations. our children suffering with the threat of being masked at school, some schools are choosing not to. i'm very grateful tore the school boards who stood up for that. covid is released into our country through the southern border on a daily basis. we have more than 7,000 cases in mcallen texas you alone. maria: i assume you're not voting for this bill when it comes to the house and did you just say recovering salmon is part of the infrastructure bill, is that what you said?
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>> yes. maria, i have a real infrastructure bill that i've already introduced months ago. it's called the aim act. the american infrastructure modernization act, takes $650 billion of the already approved unspent cares money, the sixth care package, the sixth covid relief package that the house and senate passed and biden signed, it would take that money that is not yet spent and put it towards real infrastructure and the amount that i have, the price tag that i have on that does not raise the american taxpayers dollar any more than democrats already have this year and there's actually more funding for real infrastructure that we need here in america. maria: well, we'll see how your colleagues on the left, the democrats, the moderate democrats react to this infrastructure bill that has yet to have all the pay-fors that you need as well as the much larger what i believe is $5 trillion plan even though
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they're selling it at 3.5 trillion. we're watching all of it and we'll continue to report on it. great to see you this morning. thank you. >> thank you so much, maria. maria: stay with us. the battle over vaccine mandates is next, the supreme court is weighing in. and then high tech scams hit your wallet, what you need to know to keep your money and identity safe. back in a moment. liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ (struggling vehicle sounds) think premium can't be capable? think again. ♪ (energetic music) ♪
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maria: welcome back. the first legal test for a covid-19 vaccine mandate, the supreme court refusing to block indiana university's requirement that students get vaccinated. now san francisco and new orleans are joining new york city to require vaccine proof at restaurants, gyms and other indoor venues. james freeman, what do you make of this. james: there are a number of suits in different places, challenging vaccine mandates. but i think this decision by the supreme court not to intervene, to allow the indiana mandate to go forward suggests that vaccine
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mandates are going to happen everywhere and there are many places and they're going to stick. the supreme court is looking at a case, a precedent from 1905 when the court said small pox vaccinations can be mandated. they say this new mandate actually allows some religious and medical exemptions and so i think like them or not, the mandates are constitutional, are legal according to the supreme court. maria: yeah, and we've been operating under emergency use authorization, dagen, but even dr. fauci said that when we see real full approval, regular approval from the fda, the mandates are going to skyrocket. dagen: potentially. not that tony fauci really deserves much attention at this point. one thing i'll add he though is
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when both sides of moderna submitted to the fda for emergency use authorization i believe they submitted in terms of the data, more data in fact than just a standard vaccine approval. so the data that they submitted was quite significant even at that time. number one. number two, to james' point, these mandates are on the way. amy coney barrett who heard this emergency request or reviewed it, she denied the request without comment and without referring it to the full high court for consideration and didn't even require the university to respond to the request. so this, as the journal points out, she doesn't view this matter as even a close call. so -- because it does leave room for medical exemptions, religious exemptions, it's not a one size fits all policy.
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maria: all right. let's slip in a quick break and then we are talking about afghanistan, it is on the verge of collapse. former trump deputy national security advisor kt mcfarland is here as three more cities in afghanistan fall to the taliban overnight. then rebounding above pre-pandemic levels, airbnb's outlook, after second quarter reported. the stock is down by 3%. we'll tell you what the quarter said. stay with us. retirement plan wi, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350. experience amazing at your lexus dealer.
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maria: welcome back. good friday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is friday, august 13th. take a look at markets this half hour where we are looking at futures higher, although the nasdaq just went negative. dow up 47, s&p up 2 points. both indices, the dow and s&p begin the session in unchartered territory. the nasdaq down 4 points, turning negative a moment ago. investors are awaiting economic
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data, the july import and export report will be out at 8:30 a.m. eastern. the dow and s&p finished with a record close yesterday on the day, dow industrials were up 15, nasdaq up 51 and s&p 500 higher by 13 at 4:00 on wall street yesterday. this morning european markets are also ticking higher, we had strong earnings in europe, there is optimism over the covid-19 recovery. the ft 100 up 25, cac up 23, dax index higher by 64. check asian markets overnight, all markets there were lower, fractional moves with pretty much down across the board, the kospi index was down better than 1%, the worst performer. back in the u.s., the pacific northwest gears up for another day of extreme heat today. lauren simonetti with all the details. it was a lot one yesterday, lauren. >> i can't take it anymore. i don't want even go in the pool it's so hot. let's take a look at portland. temperatures were hot there too. yesterday they reached
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103 degrees, the heat even topped phoenix which saw 100 degrees. things aren't expected to get better today. some parts of western oregon could reach 111. the northeast, not doing much better, right here in new york some city residents urged to conserve energy so there aren't blackouts. in the meantime, parts of south florida are under a tropical storm watch. this as fred downgraded overnight to a tropical depression but the system is not expected to reach hurricane strength and that's good news. the sunshine state could see heavy rain starting today with tropical storm conditions expected tomorrow. adidas reached a deal to sell reeboks to authentic brands for nearly $2.5 billion. that's a major cut from the $3.8 billion that adidas spent to buy the struggling sneaker brand back in 2006. authentic brands has snapped up
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many bankrupt brands over the years. the deal is expected to close early next year. let's take a look at airbnb, shares are down 3% in the premarket after the home sharing giant warned that new variants of covid-19 will make future booking and cancellations harder to predict. airbnb however still expects to post record revenue for the current quarter. revenue nearly quadrupled last quarter as well. it came in at $1.3 billion. maria, a lot of people think an airbnb is safer, fewer people, you know the people you're staying with but if people are canceling because of delta, you have a problem. maria: yeah. that makes a lot of sense. so i was thinking initially what you said that you would think would be a positive for airbnb but you're right, uncertainty. lauren, thank you. meanwhile, onto the taliban's takeover, president biden is taking off on a delaware vacation. he left yesterday as the problems in afghanistan get worse. the u.s. is now sending 3,000
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troops back. they're going to go back to afghanistan to help evacuate the american embassy in kabul as the taliban seizes control of three more cities. pentagon press secretary john kirby commented on the american troops in the u.s. yesterday. here's what he said. >> this is a very narrowly focused mission of safeguarding the orderly reduction of civilian personnel out of afghanistan and that's what we're going to be focused on. nobody is abandoning afghanistan, not walking away from it. it's doing the right thing at the right time to protect our people. maria: joining me right now is former trump deputy national security advisor, she is the author of the book, revolution, trump, washington and we the people, kt mcfarland is here. kt, it's always a pleasure to see you. thank you for being here, on such an important day when we are looking at what looks luke backtracking, they're sending
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3,000 troops back to afghanistan. we talked about this before president biden put this in place and you pretty much called it that afghanistan was going to be in a dark place once the u.s. leaves. that's what's happening with the taliban. give us your reaction now. >> all the taliban had to do was wait us out. i was in afghanistan 15 years ago and one of the tribal leaders said to me, you americans have all the watches, we have the time. we'll wait you out. we know you'll get tired of being here and we'll take over once you leave and that's exactly what happened. my problem right now with the biden administration is why are they sending 3,000 fully combat ready troops into afghanistan to evacuate americans from the embassy. how many americans are left if the embassy. didn't we see the writing of on the wall? haven't we been taking americans out of that region? why are they still there? secondly, the biden administration announced yesterday they're going to leave a core group, a core di employ c group in afghanistan, heavily
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guarded around the embassy. really? how many combat troops will be doing that? they have a target on their back. this was never going to end well. the taliban were always going to prevail. we should have left afghanistan in december of 2001 after we destroyed al-qaida and gone into the northwest region of pakistan and killed osama bin laden but we didn't. nation building fails. it failed in vietnam, iraq and it failed in afghanistan. maria: the intelligence community is expecting kabul to fall within a month. what do you think the implications of all a of this are as afghanistan falls? who wins and what does that mean for the rest of the middle east? >> well, i think as the region becomes unstable, as iran tries to peel off part of western afghanistan, pakistan will try to peel off parts of eastern afghanistan, the chinese will be in there because they want the
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natural resources and the russians, well, they'll probably be interested in the northern alliance tribes that are similar to the group, the countries that are on russia's south. i think the biggest loser obviously the united states. but what will happen soon is that the leaders of afghanistan, they're going to leave. they're going to leave before the taliban take over of kabul because they know they'll be executed when the taliban comes in and the second thing that is a real tragedy is china is poised now to recognize taliban afghanistan as an ally and a nation. that will be a huge slap in the face to the united states and to all of our efforts and it will allow china yet again another opportunity to say, see, america's a failure, america's days are done, china is the rising great power. you all ought to switch sides from america to china if you know what's good for you. maria: i'd like to know what they're thinking once the chinese regime takes over and what that means for the american
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people. look, we've got joe biden's foreign policy leaving fires all across the world and making americans vulnerable, certainly as it relates to china. the cia now reportedly looking at an independent, quote, mission center for china, in an effort to gain greater insight on the country's capabilities, kt. jack keane, general keane is on this program all the time. he always says to me that when it comes to the navy, we are out-gunned. china has been focused on its military as a way to become the number one super power and it's succeeding. your thoughts about this mission in china? >> yeah, i mean, this is one of the great tragedies of afghanistan and the middle east is we took our eye off china. china has within the last 20 years emerged as a country that openly said we're going to replace the united states as the dominant world power and they're going to do it primarily because they know our navy is weak, our
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military is weak, they didn't i think anticipate the budget cuts that biden would put on but particularly the united states navy. china plans to take the south china sea, the most important maritime trade route and claim it as an internal chinese, decide who comes and who goes. that's one of the reasons we need a strong navy in the pacific and we've taken our eye off the ball with china. maria: unfortunately, the corporate sector, hollywood, academia, continues to act as in some ways lobbyists for the chinese communist party. do they understand who they're in bed with? >> no, and i think they're looking at the short-term advantage to them individually as companies, as individuals, as industries, doing business with china. they're not looking at the long range cost which is if they give their technology away to china now, might be good for them in the one quarter, two quarters, but eventually the chinese say thank you very much, out of the way, we're going to produce
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that. so no, i think it's a short-term approach, one that will cost us a lot to catch up to in the years ahead. maria: a very costly and devastating mistake. i want to switch gears, ask about the nsa, the national security agency watchdog is investigating tucker carlson's spying allegations. you heard tucker on this program, on his own program, saying the surveillance agency has been monitoring his electronic communications and it is planning to leak them in an effort to take this show off the air, is what tucker said. the agency is denying the claims, kt but says it is conducting a review related to recent allegation that's the nsa improperly targeted the communications of a member bar of the u.s. news media. i know this is no surprise to you. you've been surveilled, haven't you? >> yeah, here's the word that's important in everything you just said. tucker carlson, they're going to look and see whether tucker carlson was targeted. targeted is a specific word in intelligence jargon, that means
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were they looking at tucker carlson initially. no, they weren't, they were doing the work-around. they were probably spying on somebody else that tucker carlson was in chiewn case with and so they -- in communication with, so they picked up his information, called incidental collection. they could can look at tucker carlson, what has he done, is there something we get him on. we're going to make sure the e-mails, text messages, in he'd ited form, no -- edited form, no doubt make their way into the media. initially, general flynn who was my boss in the trump administration, he wasn't targeted. the russian ambassador was targeted so they listened to the russian ambassador, they hear conversations general flynn had with them. they turned to general flynn and turned to me and communications i had with general flynn. it's like a daisy chain. they get to who they want to in
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the end. it's an overreach of the american intelligence community that reports to nobody but themselves. maria: that's disgusting, kt. and it's really criminal to be doing this to the american citizens, innocent american citizens. look, that's fine if you see it as an oversight. was about the unmasking? kt, look, they may have tripped over tuck the -- tucker carlson. there wasn't a reason to unmask him and tell the world that tucker was trying to get an interview with the russian president putin that was apparently what the correspondence was about. so who unmasked him and is that illegal? >> well, i'm sure they've done it in a very legal way by stretching the boundaries of it. so unmasking is any senior official in the government, usually somebody from the white house, can say i want to know, okay, so we know there was a foreign person on this phone call or text message and the american that we're spying on who is having this conversation, he is just identified as
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american citizen number one or two. we want to get his name. who was that? they reveal that it's tucker carlson and conveniently makes its way into the media to embarrass tucker carlson. maria: let's go one step further and leak it to the media. good job. kt, good to see you. thanks very much. it's just extraordinary what's taking place. kt mcfarland joining us. stay with us. we'll be right back. usaa is made for the safe pilots. for mac. who can come to a stop with barely a bobble. lucia. who announces her intentions even if no one's there. and sgt moore. who leaves room for her room. with usaa safepilot, when you drive safe... can save up to 30% on your auto insurance. get a quote and start saving. usaa. what you're made of, we're made for.
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maria: welcome back. well, scammers are getting creative, they're targeting americans through e-mails, social media contacts. kurt knutsson with more on that. kurt. >> hey, maria. good morning to you. the three threats on the radar we're looking at this morning, the first has microsoft sounding another alarm about an active phishing and malware scam. instead of suckering people to clicking a link, the scam got trickier. it instructs victims to use their phone to dial a call center. the crooked operators sound trustable enough to convince people to allow remote control of their screen. that's when they attack. scam number two, infecting android phones. called the fly trap attack, it's designed to scrape contacts from your phone, pretending to be you, the scammer, then sends dms to the list of contacts.
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the attack has already compromised 10,000 devices worldwide. scam number three hits american families in the wallet. tens of millions of americans start to receive child tax credit money, that will toe totp to $3,600 per child, online criminals are amping up dirty tricks, targeting americans directly, it's pulling people to click a link that leads to a fake irs another version sends you t feey that you've got recurring fees, they're trying to say we'll help you stop those, messages from fends that seem out of the cadence of when you hear from
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friends, confirmation e-mails that lead to personal info, child tax credit related topics, any of those should tell you that just, hey, back off of that stuff. go to sources without linking from any message, it's important that many american families when we talk about what is working, they're trying to maximize their child tax credit income. a completely legit irs portal has been created that lets you choose to receive a lump sum in 2022 versus monthly payments of $300 right now. there's a process to confirm your identity. i'm going to show you how to do it, if you go to we have a post we put up there, drives you to the safe places. maria: all right. good, kurt, we need that. and the scammers keep trying to stay one step ahead of the rest of us. kurt knutsson, thanks very much. great info. this weekend we have a big show on maria bartiromo's wall street, join us at 9:00 p.m. eastern tonight, we will get into all of the issues of the day, from senate spending
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and tax bills that are coming and the impact on stocks. stay with fox business for the wall street journal at large with jerry baker right after maria bartiromo's wall street at 9:30. we've got a big program this weekend. james freeman will be at the wheel at the wall street journal at large. don't miss james tonight, 9:30. back in a minute. ♪ we could have had it all. ♪ rolling in the deep. ♪ you had my heart [tires squealing] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist including automatic emergency braking.
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the new sleep number 360 smart bed is temperature balancing. and it helps keep you asleep by sensing your movement and automatically adjusts to keep you both effortlessly comfortable. the sleep number 360 smart bed is on sale now during our biggest sale of the year. maria: welcome back. time for the morning buzz. a big win for the white socks during last night's field of dreams game. check this out.
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>> anderson, hits it to the right, back at the wall and the white sox win it! maria: and with that the chicago white sox beat the new york yankees, 9-8, thanks to tim anderson's two run walk-off hit last night in iowa. it was inspired by the 1989 movie field of dreams starring kevin costner. there he is on the field. james, the game certainly living up to its hollywood billing. james: i think someone at new majorleague baseball heard a voe saying ease the commissioner's pain after the woke politics. now they're back to sports, back to baseball, back to what fans love. i hope this is a positive change of direction. maria: well, we'll see. what do you think, dagen? i want to ask you about this. first, give me your thoughts on the field of dreams game last
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night. dagen: matt was complaining it seemed like kevin costner was wandering around, looking at the sky for way too long at the beginning of the game like the players were struggling to get out of the corn field. cost near -- costner looks good, he's 66. maria: i'm a fan. that's for sure. dagen: me too. maria: i agree. mimosas and pancakes, anybody, ihop offering alcohol through a bubbles, wine and brews menu, available at select locations around the country, it will include bare foot, bud light, blue moon and corona along with locally brewed beers. ihop now with alcohol. dagen: i would argue that people deepen the tank when they eat at the ihop, you know, in the evening, you're getting pancakes after a kegger. one more thing, i think kevin costner's best baseball movie is
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bull durham. i think it's not field of dreams. that's my personal opinion. maria: that's a good one. agree. when we come back we're you awaiting the july import and export prices report, take a look at how markets react. it starts next hour, big hour, right here, "mornings with maria" is live on fox business.
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tv coupon code at checkout to save up to 40%. that's . . maria: welcome back, good friday morning. thanks so much for joining us. i'm maria bartiromo. it is friday, august 13, top stories 8:00 a.m. on the east coast, digging deeper into china coronavirus cover-up what head of the world health organization covid-19 task force is saying now. about the pandemic origins wuhan virology lab markets he mostly higher dow industrials expected up 50 at start of trading s&p 500 flat up one
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point nasdaq negative down 22 right now, servers are awaiting july export and import prices out in half an hour numbers for you, even with these mixed stories, we begin today's trading session in record territory, the dow industrials and s&p 500 hit the third straight record closes yesterday dow up 15, new high nasdaq up 51 s&p 500 higher by 13, also at all-time high european markets are ticking higher strong earnings there as well as optimism of covid-19 recovery boosting some sentiment ft 100 up 28 cac quarante up 21 dax higher by 61, in asia overnight markets were in rode pretty much fractional losses across the board, as you can see, "mornings with maria" is live right now. . . >> now some top stories that we are watching this morning, the u.s. is sending 3,000 troops back to afghanistan. that is to help evacuate the
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american embassy he in kabul worries about to fall at least three more capitals tap down by began with extremist group controlling entire southern part of the country happening in a couple weeks' time has now captured 13 of afghanistan's 34 capitals, some intelligence assessments predict taliban will take control of kabul within next month border patrol overwhelmeding migrant counters 21-year high, 212,000 migrates apprehended in july. homeland concert sourt alejandro mayorkas called numbers unprecedented the administration is not willing to admit surge result of president biden's open border policy instead point the finger at what they call root causes. >> happening overnight food and drug in addition given
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green light for covid booster shots for certain people with weakened immune systems given to those who have had transplants, or those undergoing cancers treatments cdc expected to meet today to give final approval on boosters, once that is done, booster shots could begin, right away. markets this morning are mostly higher searching for direction, at some point, we are standing by for import and export due out half an hour dow industrials up 55 nasdaq down 16, joining me right now macromavens president sustain pomboy joining conversation all morning dagen mcdowell james freeman stephanie thanks for joining the conversation always a pleasure to see you we appreciate you joining us on this important week, that was so much about inflation. we have cpi and ppi, out waiting on export and import numbers i want your take on ppi we saw significant increase consumer prices last
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month lower than month before july up 5/10 of a percent month-over-month versus june 9/10 of a percent some say evidence inflation is peaking your thoughts. >> certainly i am sure pause smiles or grins on faces at fed pushing this transitory narrative so they probably take some comfort from that, but i think this what is fascinating market took relief on the cpi ignored the ppi, and in my view, the latter is more important number as far as investors are concerned, because right now, the ppi which is basically input costs to businesses is rising at nearly twice pace as cpi, which is basically their ability to pass price increases along, so the
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implicit margin skis in numbers is most suspense since mid 1970s, when i start over a 400 basis points difference between this, increase case of cost of businesses, ability of them to pass them on. entirely dismissed by the markets, i will note that next year earnings estimates started to come down were around 13%, a few months ago, 2022 earnings for the s&p, and come down to a little over 9% so far it hasn't been a headwind for the stock market i think estimates are going to continue to come down, as this margin pressure, intensifies, and people actually focus on it, and that that will begin to be headwind for stocks. but so far everything is just ignoring -- sorry? maria: yeah no, it is interesting, because they are also ignoring the fact while wages have gone up stephanie everything else has gone up in price as well so even if you
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are making more money, in your salary it is eaten up by everything from transportation costs, look at the -- the -- increases in the cost of a car, used cars. even though that was also temporary a bit to gasoline to every day items so you not only feel wage gains if an employee, are you? >> absolutely, well, the real wage gains obviously, are negative, and i think that is the problem is that the presumption among investors is that all these input costs a, will be transitory, you know we will see that ppi number growing 9.6% headline ppi, year in year will go a down into that the pressure, they believe that secondarily believe to the descent they don't abate will be passed along the problem is consumers don't have wherewithal to
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social are a social increases wiejz running short, after paying down debt 12 months straight, paying down credit card debt should i specific for 12 months state consumers have really gone back to borrowing in the last two months, they've actually, added debt in a much more remain pays than paid down previously so suggests that at low end, people are actually starting to struggling to keep up with the cost of living and they are having to go back to credit card debt which is not a good sign, and then sort of that stress at low end of the consumer chain is being mirrored on the corporate side again something no one focused on, but yields have actually moved significantly higher in the last month, five weeks something like that, we have seen #0-basis point increase in junk yields that is, you know against backdrop where the treasury yield hasn't real moved much spreads between
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junk and treasurys edged hired fascinating because normally, as you know, maria the junk market the stock market sort of cousins moved together what we've now is stock market, hitting almost every index hitting record highs, at a time when junk market is clearly starting to feel some stress. so can be interesting to see how long that dichotomy sustains. maria: well i was just going to say we keep hitting record highs in stocks, look another the 10-year. and 10-year is down another two basis points today but stephanie you would be selling into all these record highs in stocks; is that right? ? >> yeah, i mean i just at these valuations, it is a bubble, could go up 10, 20%? absolutely i just don't want to be around when bubble bursts, you know i am a nerd get into numbers, i just i think i mentioned this to you
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before, but since the pre-pandemic period started end of 2019 coming into 2020 we've seen more than 9 trillion-dollar increase in market cap, over that same stretch of time gdp is at 300 billion, so the market cap is up 30 times the growth in the economy, and profits are only up 150 billion, so market cap is up 60 times the increase in profits, to me, there is no question that there is a bubble. the question is how long does it last when does it burst? and i am not clvr enough to figure out the answer i am just stepping aside, for myself and my clients i am advising you know that you own treasurys and that you own hard assets, no one gold, oil, commodities, to some extent emerging markets you pick and
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choose there is a lot emerging market far better certainly financial condition than year right now so that is where i would be hiding out. maria: that is a compelling statement emerging markets better shape than u.s. >> we are in -- >> -- wow, o he -- >> -- the republic, no question. >> a lack of rule of law in many easier stephanie good to see you always a pleasure, thanks very much for walking us through, this, smart conversation stephanie pomboy joining us we will see you soon stephanie thank you stephanie pomboy macromavens, taliban take over underway joe lieberman on president biden decision to withdraw troops something lieberman warned against weeks ago, the fda authorizing covid-19 booster shots for some americans we are stalkering with former fda
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it work again joe lieberman i have been thinking about you to get your reaction to all that is taking place in afghanistan. your thoughts, now about the u.s. sending 3,000 troops back as kabul is threatened. >> well, thanks, maria, thanks for mentioning the new book the centrist solution first tile it has been mentioned, but that is -- what is happening in afghanistan nightmare a diplomatic nightmare in security for united states also a humanitarian nightmare for the people of afghanistan, and i am glad there is sending more troops presumably for evacuation i think that the decision he made to pull all of our troops out and stop our airpower support of the
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afghans was a real mistake. now that military intelligence community was with warning them exactly what is happening right now, was a distinker possibility if he pulled back, because to certain extent, i am afraid this administration was relying on policies taliban made i had that they would not take advantage of the american exit to control and capture the country they wouldn't start being violent toward women again wouldn't execute afghan soldiers but they dropped all that recently, in my opinion, a basis for president biden to say, the taliban did not keep its promises to us, this policy is not going the direction i wanted. it is wrong, and hurts afghan people -- stood for a long time threatens the women of afghanistan, therefor -- to
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bring out american o support over the course -- i am going to leave some of those 2 or 3,000 troops going in presumably to help evacuate american personnel, to say to afghan military we're with you to say to the taliban cut it out stop your advance or you are going to face force of the american military. >> but joe is that at all realistic in i mean do you really believe joe biden will do that? i mean it is amazing that we are now coming upon 20 years away from 9/11 since fate fall attack 20 years trigger to go into afghanistan, there are excerpts from upcoming book book is called the afghanistan papers a secret history of the war. this book says that former president obama was not truthful in 2014 when he
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announce the war with afghanistan reached a quote conclusion. senator, can you really say there was ever a conclusion here? >> no. obviously, a chance that we can see it now is -- u.s. -- announced pulling out -- it is about 20 years of course since 9/11 when attacked from afghanistan by al-qaida was given sanctuary by taliban, 20 years is a long time but remember, from history, that the u.s. still has troops in japan and germany, are, 76 years after the end of the second world war we have troops in korea as well. and still. and it is the -- maintain in those regionals we have 3,000
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american troops 7,000 from nato allies that was enough to encourage the afghan military, after saigon enough to discourage taliban from seeking advantage which they are doing now. so i think, you know, sometimes you got to make an admission that you made a mistake, whether president biden will do that now i don't know. this is what happening out there is heartbreaking, infuriating undercuts american credible in the world to our allies encourages our enemies, the afghanistan in in afghanistan will help they major enemies russia, china, iran, i think it would be in interest of our values and president biden's own
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creditability that he change his course says i am going to leave, 2000 -- troops -- american airpower to push taliban back significantly to protect the capital city of kabul so we they don't take over entire country but otherwise the people of afghanistan are going to suffer and so are the people of the u.s. maria: radio well i am scratching my head-on all of the foreign policy joe frankly, including china, i mean you just said one of the key enemies, adversaries is the chinese communist party. and they are getting the more aggressive, every day, and yet president biden pretty much agreed to a decline in defense spending you've got all adversaries rising and we are not o adding one penny to the defense budget. it is actually a decline when you consider inflation. there is great op-ed this morning in the journalism about navy, joen jack keane
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comes con this program all the time says when you look at chinese navy american navy we are outgunned that is what has been case in south china sea as ccp bullies neighbors. >> i totally agree with you maria it is a dangerous world. and in many ways, we are facing big power competition from china and russia continue to invest in defenses we are facing extremist islamist terrorist region in iran continuing terrorist groups like taliban al-qaida, ultimately you don't convince people to behave not threaten and attack u.s. simply with words of diplomacy you have to of military power they are friday of you don't have that if you cut back on defense spending we are seeing it play
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out right now people say 2000 american troops in afghanistan -- as far as i know, we haven't lost an american soldier more than a year, how much difference does that it made a little difference, that is why i hope and pray president biden will be big enough to say this is not going the way i want it. maria: we will see. -- joe lieberman thanks so much we will watch that, we so appreciate it we'll be right back. stay with us. .
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getting to the bottom of china's covid cover-up as we have records on this program for over a year now, the virus, probably leaked from the wuhan virology lab the like left now head of the world health organization task force is calling for closer scrutiny, james freeman of you union about you've written about this a lot in the past
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was this just mainstream media saying we are not going with anything trump said? it is just incredible the censuring of this information when so clear from day one all the circumstantial evidence pointing to the lab the next question is has it intentional if. >> kudos for sticking to your guns all this time i think early 2020 you had senator cotton on did that nice making interview. as you said, much of the media treated it as some fringe bizarre theory that this might have come from a lab, in way han, where they study coronavirus what a coincidence, now what we're seeing is more acknowledge the possibility wanting to know more about what exactly happened at wuhan how this virus originated we have from denmark world of the team that went to china to investigate earlier this year, saying,
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now, he wants more study of what happened in wuhan, and interesting he acknowledges that when they said this potential for a lab was extremely unlikely that language was negotiated with chinese who were refusing to show the w.h.o. team the raw data to give them full access to conduct an investigation. he is now saying that he really didn't want to say extremely likely at the time. unlikely at the time. so, we have this -- since 2020, with media view i guess donald trump safely out of white house you now have slow acknowledgement among lots of scientists this is a real possibility i think certainly there is a scientific case many looking at it said this appeared to be engineered, but the hypothesis very much alive should be pursued. >> the question was it
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biological weapon dagen all cover-up not just from ccp but the from media. i mean from maniacs on cnn, to lunatics on twitter mobs trying to attack anybody who tries to report truth. they are really doing harm to the american people. dagen: schooring "new york post" story in 2020 raising possibility again mentioning the fact this virology lab existed in wuhan enough censorship why tony fauci still in that job ginned u.s. money dollars funneled peter daszak organization into wuhan virology institute in again he likes to get in tights with lands paul won't truly come clean on what money was being used for if he says he can say
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without a fact it wasn't used for gain of function research in wuhan, he has no way knowing that, quite frankly, money is if you think fungible, that team that went to china came back said extremely unlikely virus came fromlab they proposed that it was more likely than lab leak that virus was imported into china in frozen food remember that james? >> we as many note while chinese government continues to rule out lab leak they have recently increased the safety rules for labs like ones we're talking about. if no problem why do they need to do that? >> yeah, why do that if there is nothing to see here, exactly, we are awaiting on breaking news it is hitting the tape right now july import
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and export prices to lauren simonetti she has numbers. lauren: hi maria,the imports weak other than -- better better up .3% expectation was for a rise .6%, we are used to seeings supply chain face bottlenecks might not have been bad last month it might be bad next month because, as you know, china is one of their ports closed because of one case of covid. now the world's third busiest port closed down, 1.3% july versus .#8% in june, see if reaction not much for markets dow industrials up 56, s&p up 3 1/4, both in record territory right now, stay with us. we'll be right back. . sp
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maria: welcome back, fda giving green light for covid booster shots for people with weakened immune systems from fda commissioner plagship partnershiper chief medical officer dr. steven hahn joining me to talk more about this always a pleasure to see you. thanks very much for being here this morning i with a want to get your take first on the booster shot situation, do you think this is going to be a regular thing for people we're going to see booster shots for compromised immune systems and then have a booster shot, for others? regularly going forward? what is your take on how this plays out? >> yes good morning, everybody. maria thanks for having me i think that is good decision by fda, based on recently accumulated data around the antibody or immune response immunocompromised people weakened immune system as you mentioned i think a good
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decision tells us where science data are heading, and i do believe that predisadvantages decision about broader application of boos immunizations not that uncommon i think had expectation this might be the case where it begins where it ends who will be eligible for it the signs and data behind me in immunoresponse how long it will last will have to guide that decision making. >> i guess dr. hahn there are new questions, now, about the efficacy of these vaccines over the long term. given the fact that there are some people who are contracting covid be dispute the fact they were vaccinated, now i can only give you anecdotal evidence i've got several friends who got the vaccine and now have covid where did specific data from white house they are not releasing numbers of breakout
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infections. but how do you view this? yesterday we reported on this program, this -- this new study, i should say has not been reviewed by peers nonpeer-reviewed but raises questions about efficacy of these vaccines over thank you long term. your thoughts? >> yeah mariaive been following this information and looking at peer-reviewed nonpeer-reviewed data i think i am pretty confident saying to you information we have right now the vaccine, if you are unvaccinated, you are 25 times more likely to be admitted to the hospital with covid, or to be sick or die from covid. if you are unvaccinated, you are 8 times more likely to get covid than if you -- fun vaccinated compared to unvaccinated the point is it does protect and does protect against severe disease and death the vaccine, that is a an important starting point for this conversation, now that being said, there are
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data that suggest immune response wanes with time we know true with other vaccines brings us to current discussion around boosters or potentially even new vaccine for the variants, to me the bottom is there is still a very strong medical rationale scientific rationale for getting the vaccine because it does protect. it may not have the same level of protection as we first thought, because in time immune response goes down that signs data medicine constantly changing. maria: i also think the vaccine makes you feel a confidence that at least you've done what you can, to protect yourself. but now we've got variants that we're taking about, what can you tell us about how you see this virus evolving? are we going to see a continuing to mutate into different variants and what do you think about this delta variant? >> so i don't think there is any reason to believe at this
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point that we won't see continued mutations by virus and changes, in the characteristics virus like seeing now people drying, there are variants of the original covid-19 virus what happens the more we have significant proportion of unvaccinated people, we're going to continue to see, many people as a reservoir if you will or this virus the virus is going to have an opportunity to mutate. so our best defense against prevention of this is prevention of transmission best done through vaccination, so delta variant we do know has a great deal of transmissibility, more infectious than original covid-19 virus also inefficientious why seeing a rates we are seeing like i mentioned if vaccinated you are protect for the most part against severe disease
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hospitalization and death but we are going to continue to see this until we get the vaccination rates up that means worldwide not just in the united states. maria: so it is more infectious but is it virulent we had dr. been carson on a couple weeks ago said it is transmissible more contagious but not as dangerous than what we were dealing initial plea do you agree with idea more contagious but less dangerous less virulent? >> i think, we don't know the answer to that question yet complicated by fact yes less dangerous in those vaccinated you remember a substantial portion of american adults are vaccinated but it is still a deadly virus i wouldn't want us to take foot off pedal with
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respect to this is don't want to send a message to unvaccinated folks that they shouldn't get vaccinated but it is true infectious diseases more virus mutates potential to become less virulent don't know answer as mutations arise. >> i think there is a fair amount of confusion, coming out of the current fda and cdc, frankly, dr. hahn, look. you know, about two weeks president biden and the head of the cdc come out and tell us that if if you are vaccinated you can still -- what about that what should people vaccinated be thinking about are we we got a the vaccinations we can take off mask, and now we are hearing that if you are vaccinated you can actually be a superspreader. . >>s no new data a lot are
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surprised by data suggests virus can still be present in a person who is vaccinated although seems to disappear very quickly and much more quickly than in unvaccinated individuals. but maria i think the point -- and believe the meaner people understand this, when you are a doctor facing someone sick you make best decision you have with information you have but that information is going to be updated that is happening now i think what we have to do is what you need from government, from interest health officials, academics doctors transparency about what it shows, i think american people want to hear the truth. and we should not be afraid of telling them at some point may or may not know answer to a question but here is where we think information and data are headed. maria: yeah, i think that is a great point, is it true, do you think, that pfizer is failing at higher rate than moderna? we can't get any information
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out of this white house dr. hahn. so i am just trying to understand why there is some groups of people of that gotten the vaccine still get covid. do you have any info in terms of differences in these vaccines whether or not more vulnerable with pfizer vaccine than the moderna? there is an initial report that looks at again, you pointed out it is not peer-reviewed looking they matched folks with different age-groups, et cetera, made the observation that perhaps the pfizer vaccine wasn't as effective as moderna vaccine one paper in one specific set of population in people vaccinated, we don't know the answer to that question, maria, it is not a competition. what we have to do we have to gather as much data as possible but i think let's go back to are only natural point even in about that study 75,
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85% of people were protected, with the vaccine, from severe disease hospitalization really need to focus on that point drill that home. maria: yeah, that is a good point, all very good information from you dr. hahn good to see you this morning. thank you, sir. >> thank you, maria, take care my best to your viewers. maria: we will see you soon and to you dr. stephanie hahn joining us stay with us. we'll be right back. . daughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it.
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day agoed of living under a conservatorship things about to change her father agreeing to step down according to court filings the attorney called this major victory after 13 years status quo time for mr. spears to be suspended or moved joining me asset protection attorney, great to see you, and thanks very much for being here, and your thoughts on what we've learned with jamie now stepping down how significant is this? >> well i think huge, and really total surprise especially in light of the judge's very recent refusal when britney spears applied for expedited order to have father moved in advance of
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september hearing it is surprising he agreed to do this but i think that he is going to have to account for every single transaction that occurred over the course of the past 13 years. maria: that is big deal who do you think is going to step in be the conservator. >> i think britney stored victories this past year allowed to hire her own counsel we are seeing movement. scored a win with her father agreeing to step down. and i think at the upcoming september hearing she is going to be making a very strong case that she does not need a conservatorship one of the most significant arguments i would be making on her behalf that way back when when guardianship was imposed, it
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was a voluntary guardianship she can argue that she was well aware that she needed some help back then, so she this about credited with being able to tell court she feels she does note need that type of help now but sort of arguing in the alternative, she is saying in the event that she is deemed to still need a conservatorship wants a cpa to take the helm. maria: an independent voice rather than her father, i mean i think absurd that she doesn't have access to her own money at this point she is able to get onstage give shows, and 40 years old, at this point, dagen mcdowell you want in jump in. dagen: may margaret you mentioned, the review of all the transactions going back to the start of this conservatorship but this is a
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real arrangement judge has overseen what was going on why would there need a review of the transaction i know that britney spears is is forced by law in california, to pay the legal fees of her father because he is the conservator but ridiculous but that is just the law in the state. >> so there are two types of review -- was involved with new york version of the conservatorship laws there are two types of accounting. there is an annual accounting required every year, and there is a difference between judges as to what level of detail those annual accountings must give. so, britney and her legal team have seen all of these accountings they allege that they don't tell the whole story, so when a conservator
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is removed or resigns, they are required by laws of every state to render a full-blown totality accounting and it could be that judge penny says you know what you didn't give us enough detail in those accountings during the prior years. maria: all right, margaret great to see you, we appreciate your input thank you. we'll be right back. . [tires squealing] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist including automatic emergency braking.
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dollars, 40-year-old dessert only expecteding to for 700 bucks, this has been in the freezer the whole time? dagen: i guess, is it good lucky to give it away? i don't know i don't understand why on plante earth anybody could by a dollar for this. i am prone to impulse purchases this would not be one. maria: [laughter], james how about you would you pony up bucks for a piece of 40-year-old cake? sitting in the freezer? james: we're told it is not edible, you know i have never understood the american fascination with british royal family so -- i am not sure this isn't going to be worth more in a year to answer your question is it sillier than a lot of etfs or excuse me mfts i want to say that are selling for big bucks right now?
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[laughter]. dagen: british food don't expect it all that edible even if it was six months joold well there's that. quick break more modernization modernization live on fox business right after this, stay with us. . ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪ ♪all by yourself.♪ you look a little lost. i can't find my hotel. oh. oh! ♪♪ this is not normal. no. ♪♪
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maria: a big thank you to dagen mcdowell and james. thank you. have a great weekend, everybody. "varney & co." begins right now. take it away, stu. stuart: a good morning. just as president biden goes on vacation, his administration is hit with two crises. number one, afghanistan. overnight the taliban claim control of two big cities, herat and kandahar and they are threatening to take the capital as a plan to humiliate america by burning down our embassy in kabul on september 11. second crisis, the border, 200,000-- 212,000 since in july alone, five


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